💼 Succession

From Wall Street to Main Street, succession is in the spotlight.

Media magnates, the Murdoch family, finalized a $3.3 billion trust deal that cements eldest son Lachlan’s voting control at Fox and News Corp. Closer to home, many small businesses are navigating their own generational handoff: 72% of family business leaders want the business to stay with their heirs. Family-owned companies generate $7.7 trillion in Gross Domestic Product (GDP) and employ nearly 60% of private-sector workers — though only 12% make it to a third generation.

Empower research shows 32% of Americans plan to leave an inheritance, even if it’s small, with Gen Z and Millennials indicating the greatest desire to pass down generational wealth.

— The Editors 

🤝 Wealth handoff: About $105 trillion is set to transfer hands by 2048, yet fewer than one in three adults have a will. A top barrier is the perceived cost (25%), though closing the planning gap could help people prepare for the financial future — explore more on The Currency^TM.

💳 Continuing cost: The American Express Platinum card's annual fee is increasing 29% to $895* annually, up from $695. This increase comes with an added $1,500 in potential perks. Empower research shows 56% consider their credit card(s) to be an important part of their financial toolkit and 43% say it’s helped build financial independence.

🐄 Legacy revival: The iconic 1993 “Got Milk?” campaign returns with a modern spin — “Real Is So Back”— after dollar sales rose 4.6%* year-over-year versus last August. Plant-based alternatives saw sales volume fall 6.1% amid higher prices and shifting tastes.

📈 Funding the future: In August, the average U.S.-stock mutual fund or exchange-traded fund returned 2.9%*, lifting the year-to-date gain to 8.5%. More than a quarter of Americans say the secret to building wealth is sticking to a financial plan (26%) and seeking financial guidance and knowledge (23%), according to Empower research. 

In case you missed it – read on. 
 

• Tariff twist: Big-box sourcing pivots as core inflation holds under 3%

• Roth on the rise: Gen Z and Millennials allocate 27.3% of retirement savings to Roth IRAs — is it paying off?

• Receipt check: Monthly food bill hits $1,546 a month across grocery and dining — see how your spending stacks up.

Next generation

The share of Realtors under 30 quadrupled* in 2024 — from about 1% to 4% — and sits at 3% in 2025. Gen Z say they’d need a salary of $587,797 to be financially successful according to Empower research — and they may find real estate sales appealing because there's no ceiling on what they can earn.

That ambition may meet opportunity soon. For many, the best hand-me-downs come with a new set of keys. Older generations hold nearly $19 trillion in real estate and much of it will pass to their children. For some, it may open a path to homeownership; for others, it brings new responsibilities — taxes, upkeep, and the decision to sell or stay.

New altitude

Joby Aviation, a California-based air taxi maker, plans to bring electric helicopter and seaplane services into Uber as soon as 2026.* Joby acquired air-taxi service Blade in August for $125 million, setting the stage for a new era of air travel. A leader in the electrical vertical take-off and landing (eVTOL) space, Joby’s stock has ascended 96%* this YTD as of Sep. 29 — having got a bump of about 5%* after announcing it will join the White House's eVTOL Pilot Program.

Tuition legacy

Starting in fall 2026, Emory will waive tuition for families earning $200K* or less; Wake Forest will cover tuition (and living expenses under $100K*) for North Carolina students whose families earn under $200K; and Ohio State University, in partnership with Columbus State, will offer Buckeye Bridge — a tuition-free pathway for Columbus State grads with adjusted gross incomes (AGIs) of $100K* or less.

Planning note: Many families use 529 college savings plans as one tool to prepare for education costs.